Press Release
11.22 Million Visitors Spend $1.34 Billion in Wake County in 2006
That's $3.66 Million Every Day and $366 in Total Savings per Household in State and Local Taxes
That's $3.66 Million Every Day and $366 in Total Savings per Household in State and Local Taxes
Media Contact: Martin Armes, (919) 645-2654; marmes@visitraleigh.com
RALEIGH, N.C. (July 25, 2007) -- Some 11.22 million visitors to Wake County poured almost $1.34 billion into the local economy in 2006, or $3.36 million per day and an increase of 9.7 percent over 2005, according to the Travel Industry Association of America's (TIA) annual study.
Per D.K. Shifflet and Associates, the number of visitors to Wake County stands at 11.22 million with a current breakdown of 72 percent leisure and 28 percent business.
Wake County ranks No. 2 among North Carolina's 100 counties in terms of direct domestic visitor spending, trailing only Mecklenburg County ($3.1 billion). Rounding out the top five are Guilford County ($1.0 billion), Dare County ($702 million) and Buncombe County ($646 million).
Note that Wake County significantly exceeds visitor spending in traditional vacation destinations Outer Banks/Dare County (by 90 percent) and Asheville/Buncombe County (by 107 percent).
The Wake County total of $1.34 billion represents a 9.7 percent increase from last year's figure of $1.22 billion. Overall, the statewide increase for domestic visitors was 8.3 percent, up to $15.4 billion.
Visitor spending in the Capital City area generated more than $103 million in state ($65.18 million) and local ($38.36 million) tax receipts last year, according to TIA.
Equally important, those tax revenues generated $366 in total savings per local household in state and local taxes. Visitors to Wake County actually save residents taxes by generating tax revenues through their local spending that can be used for education, school construction, water, sewer and other necessities. If these tax revenues were not generated by visitors, the local taxpayers would need to provide the revenue if the level of service and amenities Wake County has were to be maintained.
The word "visitor" represents more than just tourists. In addition to tourists, it includes business travelers, convention delegates, day-trippers, families on a weekend getaway, and people visiting Wake County specifically for reasons ranging from shopping and dining, to cultural events and sporting events - just to name a few.
The Greater Raleigh Convention and Visitors Bureau, as the official destination marketing organization of Raleigh and Wake County, accelerates sustainable economic growth and development by increasing visitor and convention business. Through its website, VisitRaleigh.com and other tools, the GRCVB assists local visitors in a variety of ways.
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